Telekom Austria AG

ots Ad hoc-Service: Telekom Austria AG Telekom Austria Group enters the Slovenian mobile market

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    Vienna (ots Ad hoc-Service) - Telekom Austria's mobile subsidiary, Mobilkom Austria, signed today the purchasing agreement for the acquisition of a controlling stake in the Slovenian mobile communications provider SI.MOBIL d.d..

    Having started its operations in March 1999, si.mobil holds now a 14% market share of the rapidly growing Slovenian mobile telecommunications market. With about 130,000 subscribers, the company achieved unaudited revenues in the amount of EUR 29.9 million for the financial year ended December 2000.

    Under the terms of the transaction, Mobilkom Austria is to acquire a 49% stake in si.mobil. An additional 26% plus 1 share in si.mobil will be purchased by Teleimpuls, a Slovenian company which is already 49% owned by Mobilkom Austria. The present transaction is based on an acquisition value of EUR 141 million.

    The remaining 25% less 1 share in si.mobil will be held by other Slovenian shareholders and will be acquired by Mobilkom Austria at a later stage. At that time, legal changes in Slovenian company law will allow direct foreign majority ownership in si.mobil. By the end of 2002, Mobilkom intends to exercise its right directly to acquire any outstanding shares in si.mobil.

    The transaction is subject to no further regulatory or other consents, save those referred to above.

    Commenting on the acquisition, Heinz Sundt, Chief Executive Officer of Telekom Austria, said:

    "The acquisition is a logical step in building our leadership position in mobile communications within Austria and other Central European markets. It forms the ideal bridge between our successful mobile activities in Austria and in Croatia, as well as those of Mobilkom's strategic partner, Telecom Italia Mobile."

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